ProVise Management Group LLC Has $2.71 Million Stake in Citigroup Inc (C)

ProVise Management Group LLC reduced its holdings in shares of Citigroup Inc (NYSE:C) by 11.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 37,299 shares of the financial services provider’s stock after selling 4,695 shares during the period. ProVise Management Group LLC’s holdings in Citigroup were worth $2,712,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Lazard Asset Management LLC raised its position in Citigroup by 109.5% in the second quarter. Lazard Asset Management LLC now owns 9,292,727 shares of the financial services provider’s stock valued at $621,497,000 after purchasing an additional 4,856,866 shares during the last quarter. PointState Capital LP bought a new position in Citigroup in the second quarter valued at about $321,322,000. Pioneer Investment Management Inc. increased its stake in shares of Citigroup by 2,317.8% in the second quarter. Pioneer Investment Management Inc. now owns 5,002,029 shares of the financial services provider’s stock valued at $334,536,000 after buying an additional 4,795,145 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Citigroup by 42.4% in the second quarter. The Manufacturers Life Insurance Company now owns 14,815,133 shares of the financial services provider’s stock valued at $990,836,000 after buying an additional 4,413,329 shares during the period. Finally, FMR LLC increased its stake in shares of Citigroup by 3.8% in the second quarter. FMR LLC now owns 109,804,452 shares of the financial services provider’s stock valued at $7,343,721,000 after buying an additional 4,061,637 shares during the period. Institutional investors and hedge funds own 78.54% of the company’s stock.

Shares of Citigroup Inc (C) opened at $74.53 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.01 and a current ratio of 1.01. Citigroup Inc has a one year low of $55.23 and a one year high of $77.92. The company has a market capitalization of $197,060.00, a P/E ratio of 14.36, a P/E/G ratio of 1.30 and a beta of 1.56.

Citigroup (NYSE:C) last announced its quarterly earnings data on Thursday, October 12th. The financial services provider reported $1.42 EPS for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.10. Citigroup had a return on equity of 7.48% and a net margin of 18.11%. The firm had revenue of $18.17 billion during the quarter, compared to analysts’ expectations of $17.87 billion. During the same quarter last year, the firm posted $1.24 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. analysts forecast that Citigroup Inc will post 5.25 EPS for the current fiscal year.

Several equities research analysts have recently weighed in on the company. Credit Suisse Group reissued a “buy” rating and issued a $86.00 price target on shares of Citigroup in a research note on Thursday, January 4th. Barclays increased their price target on Citigroup from $76.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. ValuEngine raised Citigroup from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Wells Fargo & Co set a $95.00 price target on Citigroup and gave the company a “buy” rating in a research note on Wednesday, December 20th. Finally, Keefe, Bruyette & Woods increased their price target on Citigroup from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, December 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Citigroup currently has an average rating of “Buy” and an average target price of $78.02.

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About Citigroup

Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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